Rimac Automobili will officially join forces with Bugatti Automobile under the recently announced company Bugatti Rimac, which is becoming part of the Rimac Group, Rimac Automobili announced on Tuesday.

The establishment of the new company, which unites the two brands, is supported by the sports car manufacturer Porsche and one of the largest car manufacturers in the world, as well as the current owner of Bugatti, Volkswagen.

Rimac Group will be the largest shareholder of Bugatti Rimac with a 55 percent stake. Mate Rimac will keep his stake in the Rimac Group at 35 percent, Porsche at 22 percent, Hyundai Motor Group at 11 percent and other investors at 32 percent. The development and production of battery systems, powertrains and other components for high-performance electric vehicles will be separated into a new unit - Rimac Technology, which will be wholly owned by the Rimac Group. Entrepreneurs making the decision to establish an LLC in Texas need to be well informed when it comes to the Texas LLC laws. There are many rules and regulations when it comes to formation requirements, naming conventions, documents, filing, and more. Meeting all of the regulations and following the law properly will ensure the full establishment of your LLC, which could lead to future success in Texas.

“Bugatti Rimac combines the uniqueness of two automotive and technology pioneers. Rimac Automobile’s entrepreneurial approach and technical expertise and innovations in high-performance electric vehicles, along with Bugatti’s 112-year legacy in design and engineering and the production of some of the world’s most famous hyper cars. Porsche will play the role of a strategic partner and appoint two members of the Supervisory Board: Oliver Blume, President of Porsche AG and Lutz Meschke, Vice President and Chief Financial Officer of Porsche AG,” the statement said.

As CEO of the Rimac Group, Mate Rimac will also lead Bugatti Rimac and a new division, Rimac Technology.

The global headquarters of the Bugatti Rimac company is located in the current headquarters of Rimac Automobil, but in time it will move to the recently announced Rimac Campus in Sveta Nedelja, worth more than 200 million euros, which will also be home to Rimac Technology.

Since construction has begun, joint research and development of future Rimac Automobili and Bugatti hyper cars will ultimately take place at the Rimac Campus - which is scheduled to open in 2023.

As part of the new company, Bugatti Rimac will start operating with 435 employees, of which 300 will be based in Sveta Nedelja and 135 in Molsheim, France. In addition, 180 people at the Bugatti Engineering site in Wolfsburg will support the new company, some of which will be integrated into the Bugatti Rimac office in Germany. Rimac Technology will have over 900 employees. The Rimac Group will thus consist of over 1,300 employees at various locations.

Rimac Automobili and Bugatti will continue to operate as separate brands and manufacturers, retaining their production facilities in Zagreb and Molsheim, as well as distribution channels.

Rimac Technology will continue to innovate, developing vehicle systems and technologies for many global car manufacturers, with the application of the technology in future Bugatti and Rimac models as well.

Commenting on the first day of Bugatti Rimac's business, Mate Rimac said he was honoured to lead a new company that unites the two brands and launch what will undoubtedly be a successful, revolutionary and exciting new chapter for all involved.

"It's hard to find a better combination than Rimac and Bugatti. What each side brings to the table in terms of technical expertise, knowledge and history of car development makes a perfect recipe. The agility and innovation of Rimac Automobiles are the perfect complement to Bugatti’s history in designing and manufacturing hyper cars that set new standards. We have already started to develop new models that we can't wait to present to the public, at the right time,” said Rimac.

Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Management Board for Finance and IT at Porsche AG, points out that the right mix of experience and knowledge, innovative strength and team spirit has been found for the management of the new company.

“Together we are creating a high-performance car company. We have managed to position the traditional Bugatti brand with its charisma for the future in a way that creates value. Bugatti embodies fascination and passion, and Rimac has great innovative power and technological knowledge,” said Blume.

The merger of Rimac Automobiles with the well-known automobile brand Bugatti Automobiles was announced on July 5 this year.